For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold Glitters On Jewellers' Buying

|

Snapping its two-day falling streak, gold recovered by Rs 100 to Rs 29,950 per 10 grams at the bullion market today, taking positive cues from global market along with increased buying by jewellers.

Check silver rates in India

Silver also rebounded by Rs 500 to Rs 41,100 per kg due to increased offtake by industrial units and coin makers.

Gold Glitters On Jewellers' Buying
 

Bullion traders said a firm trend overseas where gold climbed for a second day as assets in bullion-backed funds rose to their highest since December 2013 and Goldman Sachs raised its price forecast, mainly boosted sentiment here.

Globally, gold rose 0.7 per cent to USD 1,274.65 an ounce in Singapore.

In addition, increased buying by jewellers, driven by ongoing wedding season supported the upside, they said.

In the national capital, gold of 99.9 and 99.5 per cent purity moved up by Rs 100 each to Rs 29,950 and Rs 29,800 per ten grams respectively. It had lost Rs 500 in last two days.

Sovereign, however, remained stable at Rs 23,300 per piece of eight grams in scattered deals.

Following gold, silver ready traded higher by Rs 500 to Rs 41,100 per kg and weekly-based delivery by Rs 530 to Rs 41,330 per kg.

Silver coins, however, continued to trade in a narrow range in limited deals and settled around previous level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces.

PTI

Read more about: gold silver
Story first published: Wednesday, May 11, 2016, 15:17 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more